New Zealand food prices up 1.4 percent in June

Nathan Andrada – Fourth Estate Cooperative Contributor

Wellington, New Zealand (4E) – Food prices in New Zealand climbed 1.4 percent in June month-on-month, according to data from Statistics New Zealand released on Friday, after rising 0.6 percent in both April and May.

Costs for grocery food inched up 0.5 percent, boosted by rising prices for dairy products, while month-on-month prices of butter increased jumped 7.7 percent, yogurt increased 3.6 percent, cheese increased 0.8 percent and fresh milk increased 0.2 percent.

Prices for meat, poultry and fish were up 3.6 percent, the biggest monthly gain since July 2011. Meanwhile, prices for chicken edged up 9.9 percent and prices for beef rose 5.0 percent, both influenced by less discounting.

Food prices increased 1.2 percent on an annual basis, after rising 1.8 percent in May.

The food-price index gauges the pace of price change for food and food services bought by households. Statistics New Zealand collects prices by visiting shops across the country and checks sizes of packaged goods including juices, soft drinks and coffee.

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